Fais Group makes move into investment properties

Specifically, according to the decisions dated September 1, 2026, the launch of the merger process by absorption was approved, involving THE DENIM CO. Single-Member Private Company (IKE) and A.M. GENCOM Trading, Representation, Development and Operation of Renewable Energy Sources Single-Member S.A., which will be absorbed by SPORTSWIND Trading of Clothing and Footwear Single-Member S.A. All three companies are wholly owned subsidiaries of Fais Holdings.

The process is being carried out in accordance with the applicable legal framework, specifically the provisions of Laws 4601/2019, 4548/2018, 4072/2012 and 5162/2024. The merger will be based on the transformation balance sheets dated June 30, 2026.

Levi’s wholesale and retail operations

The key objective of the move is to create a more integrated and efficient business structure, with the absorbing company, SPORTSWIND, incorporating both the Levi’s retail business and the properties currently held by GENCOM.

In this way, Fais Group aims to consolidate Levi’s wholesale and retail operations under a single tax registration number, while gaining direct access to the exploitation of GENCOM’s real estate portfolio. The move is expected to generate operational synergies, reduce administrative and operating costs, and simplify the group’s corporate structure.

Expansion into investment property

The integration of the real estate business is of particular interest, as Fais Group seeks to strengthen its participation in a model that combines commercial activities with recurring income from property assets.

As stated in the announcement, the merger aims to support the absorbing company’s dynamic expansion into investment property and retail, while also reducing operating expenses.

The utilisation of GENCOM’s properties represents one of the key pillars of the new business model the group is seeking to establish.

According to the official announcement, the move is intended, among other things, to enable SPORTSWIND’s “dynamic expansion” into investment property. The objective is to transition towards a business model that will strengthen recurring income and EBITDA, while generating more stable cash flows.

A.M. GENCOM owns three properties in Greece, located in Corfu, Thessaloniki and Ellinikon, Attica. Through Unlimited Sport, it also has six additional properties in Attica—in Alimos, Paiania, Lavrio, Metamorfosi, Koropi and Nea Erythraia—as well as two properties in Sofia. Through One Outlet, the group also owns a plot of land in Heraklion, Crete.

The transaction was definitively completed on June 2, 2026, following the fulfilment of the relevant conditions precedent. The company had estimated that the sale would generate a gain of approximately €5.5 million at the consolidated level.

The project in Crete

Perhaps the group’s most significant new real estate project is located in Agia Pelagia, Heraklion.

Fais Group has referred to an approximately 170-acre privately owned site, where a tourism development with a total area of approximately 30,000 sq m is planned.

Under the development plan presented by management, the study and permitting phase will precede construction, with work scheduled to begin in 2028 and the investment expected to become operational around 2030.

Castello Bibelli

In Corfu, the group is also participating in the Castello Bibelli project, one of the island’s most distinctive properties.

The plan calls for the restoration of the historic complex and the development of a luxury tourism offering incorporating hotel and residential uses.

Modiano and One Salonica

Fais Group maintains a strong presence in Thessaloniki through One Salonica Outlet Mall and the Modiano Market.

The Modiano Market was acquired by the group in 2017 and recently reopened following its redevelopment, in cooperation with Ergon Foods.

The group is also present at One Salonica Outlet Mall, where the company manages the ground and first floors of the outlet shopping centre, covering a total area of 12,000 sq m, in Thessaloniki.